Subject: Amendment 34-39726; file S7-8-98
April 15, 1998
Mr. Jonathan G. Katz, Secretary
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Dear Mr. Katz:
My firm is Westview Securities Inc. which is a Mergers & Acquisitions Broker
Dealer. Until recently, Westview had a $5,000 minimum net capital
requirement. The net capital requirement was just increased to $100,000,
because my firm's own investment account will have more than ten trades per
year. These are mutual fund account trades or trades through another broker
with Westview as a normal customer.
Westview does not carry customer accounts and does not do any business with
the retail public in any securities and does not even have a clearing
agreement. Your new rule for $100,000 minimum net capital as a threshold
would require Westview ( a One Person Firm) to file your y2k reports. This
is patently absurd. You need an exemption for Merger and Acquisition and
other Broker Dealers which do not require this degree of scrutiny. Westview
has one notebook computer!
Please respond with your rationale for this requirement! Thank you in
advance for your response.
Dr. Peter Korn
President
Westview Securities Inc.
(619) 793-0175 Voice
(619) 793-0176 Fax
SEC BD #8-43539
NASD ID# 028233
peterkorn@msn.com